Buckle (NYSE:BKE) Shares Gap Up Following Strong Earnings

The Buckle, Inc. (NYSE:BKE) gapped up before the market opened on Friday following a better than expected earnings announcement. The stock had previously closed at $35.15, but opened at $37.49. Buckle shares last traded at $35.85, with a volume of 81,102 shares.

The company reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.09. Buckle had a return on equity of 44.11% and a net margin of 16.21%. The company had revenue of $379.20 million for the quarter, compared to analysts’ expectations of $378.97 million. During the same period in the prior year, the firm earned $1.59 earnings per share. The firm’s revenue for the quarter was down .8% on a year-over-year basis.

Analyst Ratings Changes

Separately, StockNews.com cut Buckle from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th.

Insider Activity

In other news, CEO Dennis H. Nelson sold 20,453 shares of the stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $51.37, for a total transaction of $1,050,670.61. Following the sale, the chief executive officer now owns 1,760,187 shares in the company, valued at $90,420,806.19. This represents a 1.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold 97,382 shares of company stock worth $4,446,403 over the last three months. 39.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Buckle

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. bought a new stake in shares of Buckle in the 4th quarter worth $31,000. Caption Management LLC purchased a new stake in shares of Buckle during the fourth quarter valued at $36,000. Smartleaf Asset Management LLC increased its holdings in Buckle by 268.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 825 shares of the company’s stock worth $42,000 after buying an additional 601 shares in the last quarter. Bellwether Advisors LLC purchased a new position in Buckle in the 4th quarter worth about $43,000. Finally, Quarry LP lifted its stake in Buckle by 60.9% during the 3rd quarter. Quarry LP now owns 938 shares of the company’s stock valued at $41,000 after acquiring an additional 355 shares during the period. 53.93% of the stock is owned by institutional investors.

Buckle Stock Performance

The business’s fifty day moving average price is $44.86 and its 200-day moving average price is $45.68. The stock has a market cap of $1.83 billion, a PE ratio of 9.14 and a beta of 1.17.

Buckle Company Profile

The Buckle, Inc operates as a retailer of casual apparel, footwear, and accessories for young men and women in the United States. It markets a selection of brand name casual apparel, including denims, other casual bottoms, tops, sportswear, outerwear, accessories, and footwear, as well as private label merchandise primarily comprising BKE, Buckle Black, Salvage, Red by BKE, Daytrip, Gimmicks, Gilded Intent, FITZ + EDDI, Willow & Root, Outpost Makers, Departwest, Sterling & Stitch, Reclaim, BKE Vintage, Nova Industries, J.B.